TechRadars sister site Seeking Alpha reported that Microsoft has signed an agreement with Nest to buy the home monitoring service.
The company has also bought a number of smart home startups in the past year, including Nest Learning Suite, which was recently acquired by Microsoft.
Nest was acquired by Google in 2014.
Nest has a lot of room to grow and grow quickly.
Its smart home products include Nest Learning Thermostat and Nest Learning Home Security.
Microsoft was reportedly looking to acquire Nest for a total of $3.4 billion, which would have made it the fourth largest tech company to acquire a smart home startup in the last year.
Microsoft has invested in some of the hottest startups in this space, including SmartThings, which is also owned by Google.
Nest will continue to be a great partner for Microsoft, and it will also continue to offer its cloud services and Nest’s smart home software.
Read moreMicrosoft’s acquisition of Nest has the potential to make the company a leader in smart home technology, but it also poses challenges for the company’s competitors in the space.
Nest’s hardware platform was originally designed to be used by Nest thermostats and the company has been building a suite of smart thermostatic devices.
It’s unclear whether Microsoft’s acquisition will extend Nest’s reach beyond thermostators and thermostatically controlled appliances.
Microsoft is also not the only tech company that has made a move into smart home tech in recent years.
Google, Nest, and Amazon all announced their own smart home acquisitions last year, and the acquisitions have all been made through acquisition.
Microsoft’s deal with Nest will mark the second time that the company acquired a smart device maker in the same year.
Apple also acquired Nest in 2017 for $2.5 billion.
Microsoft acquired Nest last year after being acquired by Amazon.